July single-family home sales and dollar volume sold experienced a 9% decline leaving July YTD home sales in a flatter position than June YTD. July YTD is still in a positive sales zone, if only by 1%.
Here’s a peek at the most important stats for July and YTD:
*Pending sales computation changed in May 2015 and therefore July YTD pending sales are inaccurate.**Metrics reflect all home sales – both new and existing.
There is no question that the slowing sales velocity is putting a damper on home price appreciation and will probably continue as the year unfolds.
Houston Home Sales by Price Class for 2016
What price ranges had the most amount of increased sales in Houston July YTD? The following price classes experienced the largest increase in sales over 2015:
————————————————–Months of Inventory
$200,000 – $249,999 – up 18%——————3.2
$250,000 – $299,999 – up 12% —————–4.7
$150,000 – $199,999 – up 6% ——————2.0
$300,000 – $399,999 – up 6% ——————5.8
$400,000 – $499,999 – up 0% ——————7.3
Houston has returned to its’ normal market demand by price of $150,000-$399,999 and most likely these price ranges will remain the most in demand throughout 2016.
The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries. Some areas are exceeding Houston’s overall growth in sales while others are lagging behind. For a breakdown of activity by area with a map, CLICK HERE.
To see the hottest selling geographical areas for the month in Houston, CLICK HERE.
To search for homes by price range and map, go to www.GaryGreene.com.
Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene